(all weekly assignments are attached)

Week 2: Internal Controls – Discussion

Describe what you think is the most important control activity that a company can implement. Why do you think that the one you chose is the most important?

Q2

Describe one of the three elements that are present when fraud occurs. Of the three elements, which do you think is present first in an ethical situation?

Week 3: Financial Statement Analysis – Discussion

Horizontal and Vertical Analysis (graded)

Go to Yahoo! Finance at the following URL:.yahoo.com/”>http://finance.yahoo.com/. Enter the name of your favorite public company in the box in the upper left-hand corner, and click on Get Quotes. Click on the income statement or balance in the bottom left-hand corner of your favorite company. Perform a horizontal or vertical analysis of one of the line items on its income statement or balance sheet. What does this information tell you?

Ratio Analysis (graded)

Go to Yahoo! Finance at the following URL:.yahoo.com/”>http://finance.yahoo.com/. Enter the name of your favorite public company in the box in the upper left-hand corner, and click on Get Quotes. Explore the information given for your favorite company by clicking on the links on the left-hand side of the screen. What information do you find interesting?

Week 4: Managerial Accounting – Discussion

Managerial Accounting (graded)

This week, we are shifting our focus from financial accounting to managerial accounting. How do the content and verification of the reports differ between managerial and financial accounting?

CVP Analysis (graded)

What is CVP analysis? How is it useful to managers?

Week 5: Budgets and Productivity – Discussion

Incremental Analysis (graded)

What is incremental analysis? How is it used by management?

Relevant Costs (graded)

Our lecture states that relevant costs can also be viewed as avoidable costs. What does this mean? This is a very difficult concept, so help your classmates understand it!

Week 6: Pricing – Discussion

Budgeting (graded)

Why is budgeting important for a company? What are some reasons that a company would not prepare a budget?

Responsibility Accounting (graded)

Describe responsibility accounting and its purpose. What conditions are necessary for responsibility accounting to be used effectively?

Week 7: Capital investment and Incremental – Discussion

Capital Budgeting (graded)

Discuss the capital budgeting process and the inputs that are used in capital budgeting.

Transfer Pricing (graded)

What is the transfer price? Why is determining a fair transfer price important for division managers?

Week 8: Final Exam – Discussion

Looking Ahead (not graded)

Class, looking back over the Terminal Course Objectives for this course, what are you looking forward to learning more about throughout your education and career?

Week 4 midterm

Page 1

1.(TCO 1) Suppose your company sold $25,000 in merchandise to a customer for cash. How does this transaction impact the accounting equation?(Points : 12) 2.(TCO 2) Suppose your company sold $50,000 in merchandise to a customer for cash. How does this transaction impact the accounting equation?(Points : 12) 3.(TCO 3) Rationalization is one of the components of the fraud triangle. What types of rationalization could a person use to justify misconduct? How can a company protect itself from rationalization as a part of fraud?(Points : 12) 4.(TCO 4) What is horizontal analysis of financial statements? How does horizontal analysis differ from vertical analysis?(Points : 12)

Page 2

1.(TCO 3) Separation of duties is a key feature in an internal control system. Why is separation of duties such an important internal control? Give an example of separation of duties as an internal control.(Points : 24) 2.(TCO 1) Describe the balance sheet. Why is this statement important to the company, creditors, and investors?(Points : 24) 3.(TCO 4) Name and describe one liquidity ratio. What does this ratio measure? What is the formula for this ratio?(Points : 24) .0001pt; padding: 0px; color: rgb(0, 0, 0); font-family: Arial, Helvetica, Verdana, ‘Bitstream Vera Sans’, sans-serif; font-size: 12px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 18.75pt;”>Week 8 : Final Exam – Final Exam Page 1 1.(TCO 1) What is the accounting equation? Suppose your company sold $12,000 in merchandise to a customer for cash. How does this transaction impact the accounting equation?(Points : 17) 2.(TCO 2) What are the four basic financial statements? Describe the balance sheet, and explain why it is important.(Points : 17) 3.(TCO 3) What is the Sarbanes-Oxley Act? Do you think this act has more importance for the accounting profession or for investors? Why?(Points : 17) 4.(TCO 4) What is horizontal analysis of financial statements? How does horizontal analysis differ from vertical analysis?(Points : 17) 1.(TCO 8) Why is capital budgeting important? What is the IRR method? How is it calculated?(Points : 26) 2.(TCO 9) What are five different types of decisions that could use incremental analysis? What are the relevant costs in a make-or-buy decision?(Points : 26) 3.(TCO 10) How is a transfer price determined? Describe the cost-based method. Do you think it is better than the market-based method?(Points : 26) 4.(TCO 11) What are direct materials? Give an example of a direct material. How do direct materials differ from indirect materials? Give an example of an indirect material.(Points : 26) 1.(TCO 5) What is CVP analysis? Why is this an important analysis for a company to perform?(Points : 26) 2.(TCO 6) What is an operating budget? What does it result in? What is the first step in completing an operating budget?(Points : 26) 3.(TCO 7) What is responsibility accounting? What is a cost center? How does a cost center differ from a profit center?(Points : 26) Page2 1.(TCO 8) Why is capital budgeting important? What is the IRR method? How is it calculated? (Points : 26) 2.(TCO 9) What are five different types of decisions that could use incremental analysis? What are the relevant costs in a make-or-buy decision? (Points : 26) 3.(TCO 10) How is a transfer price determined? Describe the cost-based method. Do you think it is better than the market-based method? (Points : 26) 4.(TCO 11) What are direct materials? Give an example of a direct material. How do direct materials differ from indirect materials? Give an example of an indirect material. (Points : 26) 1.(TCO 5) What is CVP analysis? Why is this an important analysis for a company to perform? (Points : 26) 2.(TCO 6) What is an operating budget? What does it result in? What is the first step in completing an operating budget? (Points : 26) 3.(TCO 7) What is responsibility accounting? What is a cost center? How does a cost center differ from a profit center? (Points : 26) =”msonormal”>